Home Selling Process

Home Selling Process

  • REALTOR

    • Find a Real Estate professional you will be comfortable with telling them everything.
    • Make sure the professional understand why you are selling.
    • Find out their marketing and overall plan to sell your house.
    • Do they hire a professional photographer or take their own photos of your house.
    • What does the contract say if you are not happy and would rather work with a different Agent.
  • OFFERS/ CONTRACT

    • Is there a Binder/ Earnest Money Deposit?
    • Loan approval length (45 is standard but 25-30 is preferred)
    • Closing date
    • Closing cost
    • 24 hours to respond but can be anything. If multiple offers, notify all Agents involved to make highest/ best offer.
    • Once offer is Accepted, signed and BOTH parties have a copy the offer then becomes a Contract.
  • BUYER RESPONSIBILITIES

    • 5 Days to complete loan application with their lender.
    • 3 Days after loan application, appraisal fee must be paid to lender.
    • 10 Days to do any and all inspections (general, WDO and pool) including to verify Home Insurability.
    • 7 Additional Days for repair negotiations.
  • WDO INSPECTION (Wood Destroying Organisms) (Paid by Buyer)

    • Required for all VA loans. Optional for other loan types.
    • VA will not approve a loan without a clear WDO Inspection Report
  • APPRAISAL (Paid by Buyer)

    • Has to be paid within 3 days of loan application
    • If the home appraises for less than the agreed purchase price there are four options: 1.) Seller comes down on purchase price. 2.) Seller can pay the difference. 3.) Buyer can pay the difference. 4.) Both the Buyer and Seller split the difference.
  • TITLE COMPANY/ ATTORNEY

    • Run a Lien check
    • Collect All monies due
    • HOA Fee Check
    • Calculate all Closing Costs
    • Closing typically takes place at the office of the Title Company/ Attorney.
  • FINAL WALK THROUGH

    • Within 24 hours of closing
    • Checking to make sure the house is still in the same condition when contract was made, all appliances per contract are still in the home and all repairs are done.
  • CLOSING

    • Title company will verify funds and distribute according to contracts.
    • Sign in BLUE ink.
    • Receive the house keys, mailbox keys, garage door openers and amenity access to your new home.

                                                       

 CONGRATULATIONS!!